Smartcard market is witnessing a rise in EMV (Europay, MasterCard and Visa) Pay technology, says RNCOS.
Noida, UP -- (SBWIRE) -- 11/28/2014 -- EMV chip technology is becoming the global standard for credit card and debit card payments. EMV is one of the recent developments to combat fraud and protect sensitive payment data in the card-present environment. According to our report, "Smart Card Market Outlook 2018", various financial institutions like American express, Standard Chattered etc. in many countries has started migrating from magnetic stripe cards to EMV chip technology, hence providing a new direction to the overall smartcard market.
The EMV specifications in a device ensure the interoperability between chips based payment cards and terminals. The EMV chip cards are embedded with microprocessors, that is capable of providing strong transactional security features and applications. Various utility associated with an EMV technology is building its market across globe. Moreover, in addition to the reduction of fraud, there are other cost savings associated with EMV acceptance. The payment brands are ensuring that chip-bearing customers can pay at chip-enabled businesses. For instance, Visa and MasterCard have issued upcoming rules and guidelines for processors and merchants to support EMV chip technology. Hence, backed by above reasons, the EMV is gradually witnessing a rise in demand.
The report, "Smart Card Market Outlook 2018", provides a critical analysis and an unbiased view into the state of the global Smart Card industry, including the current and future market size for various industry segments. The report features Smart Card market for various application areas such as telecommunication, financial services, government and transportation. Further, the report analyzes global Smart Card industry performance on geographical front. The research includes an in-depth country level analysis of 16 major Smart Card markets viz. US, Canada, UK, France, Germany, Russia, Japan, China, South Korea, India etc.
Additionally, the report also talks about different trends and driver, boosting industry growth along with the potential growth areas. Also, our study delves into the competitive landscape covering business overview, key financials, product analysis and strategic initiatives of major Smart Card players worldwide. Overall, the report will facilitate clients in analyzing the driving forces and understand the existing opportunities in the industry.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.